Life Insurance Amendment Regulation 2012 (No. 1) - Commencement Instrument

Administered by Department of the Treasury

Legislation au F2013L00297 Not in force Legislative Instrument

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EXPLANATORY STATEMENT

 

Issued by authority of the Assistant Treasurer

Life Insurance Act 1995

Life Insurance Amendment Regulation 2012 (No.1)

Life Insurance Amendment Regulation 2012 (No.1) — Commencement Instrument

Subsection 2(1) of the Life Insurance Amendment Regulation 2012 (No. ) provides for the Amendment Regulation to commence on a day fixed by legislative instrument made by the Minister.  That day is 1 March 2013.

The Amendment Regulation amends the Life Insurance Regulations 1995 to implement a commitment by Australia to allow New Zealand life insurance companies to seek approval to operate in Australia as a branch (further information and a Statement of Compatibility with Human Rights is provided in the Explanatory Statement for this Regulation). 

The legislative instrument specifying the commencement of the Agreement also ensures that the Federal Register of Legislative Instruments contains a complete record in relation to the commencement of the Amendment Regulations.

Consultation was unnecessary for this legislative instrument as this instrument is of a minor or machinery nature and does not substantially alter existing arrangements.  It has no direct or indirect effect on business.

 

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.